Question: Aggregate Planning Using LP Modeling Part One: Model Development A local company in Blacksburg produces sleeve bearings used in automobile engine manufacturing and is highly

Aggregate Planning Using LP Modeling Part One:

Aggregate Planning Using LP Modeling Part One: Model Development A local company in Blacksburg produces sleeve bearings used in automobile engine manufacturing and is highly automated. The company utilizes regular production, overtime, subcontracting, and inventory to help balance demand. The following data is given for the next four quarters and no backorders are allowed. Develop an LP model to determine the production plan that will minimize total costs. Do NOT solve the model. NOTE: You are to develop the MODEL, i.e. decision variables, objective function, and constraints ONLY. SOLVING the model with Excel/Solver is covered in the next assignment. Overtime Capacity Quarter 1 100 Demand Forecast 1000 1500 2500 3000 Regular Capacity 1000 1250 1500 1500 Subcontract Capacity 500 500 500 500 100 3 200 200 Regular (R) production cost per unit Overtime (O) production cost per unit Subcontracting (S) cost per unit Inventory (I) holding cost per unit per period Beginning inventory $15 $25 $30 $5 250 units

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